Saudi banks have thrived rather than survived ; a dynamic outlook for 2021

كي بي إم جي: توقعات باستمرار قوة أداء القطاع المصرفي

KPMG Report: Despite pandemic, Saudi banks have thrived rather than survived; a dynamic outlook for 2021  KPMG’s latest report on the financial sector, Banking Perspectives 2021, records the sector seen moving towards a better year. Backed by government reforms, halt in credit losses (ECL), stable liquidity, stronger CAR, and transformational changes, banks are heralding stable year, as compared to a shaky outlook in the corresponding period last year. KPMG reported that the 11 Tadawul-listed banks stayed resilient at the end of 31 December 2020 reflecting signs of recovery since uncertainties…

Ajman Bank’s IT Head Wins CXO Award 2021

رئيسة قسم تكنولوجيا المعلومات في مصرف عجمان تفوز بجائزة CXO لعام 2021

Ajman Bank’s Head of Information Technology Ms. Hajar Al Maazmi has been announced as one of the winners of the prestigious CXO 50 Awards 2021. Hosted by CXO Insight Middle East this year’s award was organised to recognise top 50 IT leaders and industry professionals who have taken the reins during the COVID-19 crisis to shape the new normal. Congratulating Ms Al Maazmi, Mr. Mohamed Amiri, CEO of Ajman Bank, stated, “The CXO Award is designed to honor innovative and forward-thinking IT leaders whose actions have had an impact on…

ADCB expands mortgage business through acquisition ‎ of portfolio from Abu Dhabi Finance ‎

ADCB expands mortgage business through acquisition ‎ of portfolio from Abu Dhabi Finance ‎

Abu Dhabi, 28 February 2021: Abu Dhabi Commercial Bank PJSC (“ADCB” or “the Bank”) has signed an agreement to acquire a portfolio of approximately 1,000 mortgages from Abu Dhabi Finance PJSC (“ADF”). The transaction provides further growth for ADCB’s retail and SME businesses in line with the Bank’s UAE-centric strategy and prudent risk management framework. ADF was established in 2008 as an Abu Dhabi-focused conventional mortgage specialist and has played a key role in the development and transformation of the real estate finance sector. The assets, with a gross book…

Appointment of Sheikh Zayed Bin Suroor Al Nahyan as a member of the Board

Appointment of Sheikh Zayed Bin Suroor Al Nahyan as a member of the Board

At its meeting on 31 January 2021, the Board of Directors of ADCB acknowledged the contribution to the Bank of Abdulla Khalil Al Mutawa who has resigned from the Board after 24 years of service. The Board appointed Sheikh Zayed Bin Suroor Al Nahyan as a member of the Board (subject to the CB approval). Khaldoon Al Mubarak, Chairman of the Board of ADCB, commented: “I would like to take this opportunity to extend my heartfelt gratitude to Abdulla Khalil Al Mutawa who has resigned from the Board of Directors…

DAMAC Properties teams up with ADIB to offer attractive home finance plan

داماك العقارية تعلن خطة تمويل جذابة

Plan offers 1.99% finance on villas and apartments Customers can benefit from waivers on evaluation charges and processing fees Offer comes as Dubai records a surge in first-time home buyers Dubai, UAE — 16 December 2020: As demand for ready and off-plan villas increases in Dubai, DAMAC Properties has announced a home finance plan in partnership with Abu Dhabi Islamic Bank (ADIB). The plan offers a finance with a rate of 1.99% per annum for DAMAC villas. Property buyers and rental customers can also benefit from waivers on evaluation charges…

Ajman Bank Wins the Best Professional Practices   for Internal Audit Award at the 9th International Conference of Audit

Ajman Bank has been declared the winner of the Best Professional Practice Award in the internal audit category of the private sector (Fraud Category). The announcement was made at the 9th International Conference of Chief Audit Executives held this week under the kind patronage of His Excellency Abdullah bin Touq al-Marri, Minister of Economy of the UAE and organized by the Institute of Internal Auditors. Ajman Bank bagged the coveted award in a closely contested competition pitched against other banks and institutions in the UAE. Making the announcement, Mr. Mohamed…

i-exceed sees Increased Adoption of Digital Onboarding in Corporate Banking

i-exceed sees Increased Adoption of Digital Onboarding in Corporate Banking

NEW YORK [ AETOS Wire ] (BUSINESS WIRE)— We live in one of those times, where the old saying about decades where nothing happens and weeks where decades happen can’t be any truer. The banking landscape has undergone dramatic changes over the last few months with a focus on customer experience in a digital-only world. i-exceed’s Appzillon Digital Banking platform enables banks to move to a mobile-first strategy and helps them accelerate their digital transformations. The Appzillon platform helps banks accelerate their corporate client origination processes with an end-to-end on-boarding platform. The…

Noon turns the skies of Riyadh, ADNOC HQ, the Burj Khalifa, & ADGM yellow for 2020’s craziest sale

 Celebrating the largest Yellow Friday Sale ever with a region-first coordinated event Dubai, UAE. November 25th, 2020: noon.com, the homegrown digital marketplace, announced its biggest ever Yellow Friday Sale going live with a stunning coordinated light and air show across the Middle East, turning the region’s most iconic buildings and the skies of Riyadh bright yellow. On the afternoon of the 23rd of November noon partnered with The Helicopter Company to turn Saudi Arabia’s capital city yellow, flying a message across the skies of Riyadh. The huge 72 ft yellow…

Badiri Academy expands horizons with diverse range of e-learning opportunities

“أكاديمية بادري” توسع خيارات تعليمها الإلكتروني

Online sessions on entrepreneurship, financial management, e-learning and emotional development being held in partnership with University of Sharjah, Sharjah Islamic Bank and the London-based School of Life  Continuing to innovate to expand and diversify its e-learning and skills development offerings, in light of a rapidly changing market landscape post Covid-19, Badiri Education and Development Academy (Badiri), the education and capacity building arm of NAMA Women Advancement Establishment (NAMA), has rolled out its November webinar series in partnership with leading educational and professional institutions in the UAE and abroad. With a…

RAKBANK Reports Nine Months Ended 30 September 2020 Net Profit of AED 438.6 million

United Arab Emirates, 22 October 2020: The National Bank of Ras Al-Khaimah (“RAKBANK”) announced a consolidated net profit of AED 438.6 million for the nine-month period ended 30 September 2020. Third quarter earnings were lower due to reduced income resulting from a subdued loan demand and higher IFRS 9 provisions that are set aside as precautionary measures to combat the economic impact of COVID-19. For the nine months ended September 30, 2020, the Bank’s Total Income of AED 2.8 billion was down by AED 241.9 million on a year-on-year basis…